ServisFirst Bancshares, Inc.

Listed Company

SFBSCIK 0001430723NYSELarge AcceleratedState Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$276.60M

Total Assets

$17.73B

Equity

$1.85B

Shares Out

54.64M

Op. Cash Flow

$355.20M

Business

ServisFirst Bancshares, Inc. is a bank holding company that operates a full-service commercial bank through its wholly owned subsidiary, providing traditional commercial banking services. It offers commercial, consumer and real estate lending; deposit products including checking, savings, money market and certificates of deposit; electronic banking (online, mobile and remote deposit), treasury and cash management, correspondent banking and related services. The company conducts business through a single reportable segment with decentralized regional decision-making supported by centralized risk, credit and back-office functions; certain subsidiaries manage loan participations and REIT elections. It serves markets across Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia via full-service branches, a loan production office and digital channels.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	829	788	699	500	386
Taxable securities	67	67	53	41	25
Nontaxable securities	21,000	31,000	65,000	137,000	302,000
Federal funds sold	12	1	3	2	29,000
Other interest and dividends	83	90	58	17	5
Total interest income	990	946	813	559	416
Deposits	374	421	332	59	27
Borrowed funds	81	79	71	29	5
Total interest expense	455	499	402	88	—
Net interest income	535	447	411	471	385
Provision for credit losses	35	22	19	38	—
Net interest income after provision for credit losses	500	425	392	433	353
Securities losses	−16	0	0	−6	620,000
Bank-owned life insurance income	15	10	8	6	7
Other operating income	3	3	3	13	5
Total noninterest income	27	35	30	33	33
Salaries and employee benefits	95	96	81	78	68
Equipment and occupancy expense	15	15	14	12	11
Third party processing and other services	32	31	28	27	16
Professional services	7	7	6	4	4
FDIC and other regulatory assessments	11	11	16	5	6
Other real estate owned expense	155,000	199,000	47,000	295,000	868,000
Other operating expenses	26	21	33	31	27
Total noninterest expenses	185	181	178	158	133
Income before income taxes	342	279	245	309	253
Provision for income taxes	66	52	38	57	46
Net income	277	227	207	252	208
Dividends on preferred stock	62,000	62,000	62,000	62,000	62,000
Net income available to common stockholders	277	227	207	251	208
Basic earnings per common share (in dollars per share)	5.06	4.17	3.8	4.63	3.83
Diluted earnings per common share (in dollars per share)	5.06	4.16	3.79	4.61	3.82

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	95	116	123	106	57
Interest-bearing balances due from depository institutions	1,027	2,259	1,907	708	4,107
Securities purchased with agreement to resell	499	0	—	—	—
Federal funds sold	6	1	101	2	58
Cash and cash equivalents	1,627	2,377	—	—	—
Available-for-sale debt securities, at fair value	1,069	1,161	—	—	—
Held-to-maturity debt securities (fair value of $616,535 and $639,496, respectively)	660	715	—	—	—
Restricted equity securities	12	11	10	8	7
Mortgage loans held for sale	12	9	5	2	1
Loans	13,697	12,606	—	—	—
Less allowance for credit losses	−172	−164	−153	−146	—
Loans, net	13,525	12,441	—	—	—
Premises and equipment, net	60	59	59	60	60
Accrued interest and dividends receivable	62	63	59	48	35
Deferred tax asset, net	50	62	63	60	38
Other real estate owned and repossessed assets	3	3	995,000	248,000	1
Bank owned life insurance contracts	435	300	293	288	283
Goodwill	14	14	14	14	—
Other assets	199	137	106	79	66
Total assets	17,727	17,352	16,130	14,596	15,449
Non-interest-bearing demand	2,684	2,620	2,643	3,321	4,800
Interest-bearing	11,535	10,924	10,630	8,225	7,653
Total deposits	14,219	13,543	13,274	11,547	12,453
Federal funds purchased	1,472	1,994	1,257	1,619	1,712
Other borrowings	35	65	65	65	65
Accrued interest and dividends payable	30	28	28	19	14
Other liabilities	121	105	67	49	54
Total liabilities	15,877	15,735	14,689	13,298	14,297
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at December 31, 2025 and December 31, 2024	0	0	0	0	0
Common stock, par value $0.001 per share; 200,000,000 shares authorized: 54,624,955 shares issued and outstanding at December 31, 2025; and 54,569,427 shares issued and outstanding at December 31, 2024	54,000	54,000	54,000	54,000	54,000
Additional paid-in capital	238	236	233	230	226
Retained earnings	1,614	1,413	1,255	1,110	911
Accumulated other comprehensive loss	−2	−32	−48	−42	14
Total stockholders' equity attributable to ServisFirst Bancshares, Inc.	1,850	1,616	1,440	1,297	1,152
Noncontrolling interest	500,000	500,000	500,000	500,000	500,000
Total stockholders' equity	1,850	1,617	1,440	1,298	1,152
Total liabilities and stockholders' equity	17,727	17,352	16,130	14,596	15,449

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred tax expense (benefit)	2	−3	−1	−3	−5
Depreciation	5	5	4	4	4
Accretion on acquired loans	200,000	186,000	197,000	157,000	43,000
Amortization of investments in tax credit partnerships	38	13	14	12	7
Net amortization (accretion) of debt securities	123,000	−200,000	49,000	3	15
Decrease (increase) in accrued interest and dividends receivable	838,000	−4	−11	−14	2
Stock-based compensation expense	3	3	4	3	2
Increase in accrued interest and dividends payable	2	481,000	9	5	1
Proceeds from sale of mortgage loans held for sale	253	204	128	51	234
Originations of mortgage loans held for sale	−250	−204	−128	−49	−213
Gain on sale of mortgage loans held for sale	−5	−5	−3	−2	−7
Loss on sale of securities available for sale	16	0	0	6	−620,000
Net (gain) loss on sale of other real estate owned and repossessed assets	−298,000	−120,000	28,000	−501,000	288,000
Write down of other real estate owned and repossessed assets	0	74,000	0	225,000	845,000
Increase in cash surrender value of life insurance contracts	−11	−7	−8	7	−7
Net change in other assets, liabilities, and other operating activities	−11	956,000	−37	−26	−6
Net cash provided by operating activities	355	253	197	273	266
Purchases of debt securities available-for-sale	−485	−1,142	−1,002	−76	−417
Proceeds from maturities, calls and paydowns of debt securities available-for-sale	443	904	746	116	177
Proceeds from sale of debt securities available-for-sale	159	0	0	75	5
Purchases of debt securities held-to-maturity	−3	−45	−49	−648	−291
Proceeds from maturities, calls and paydowns of debt securities held-to-maturity	57	313	100	75	95
Purchases of restricted equity securities	−903,000	−1	−46	−423,000	−7
Proceeds from sale of restricted equity securities	0	0	44	0	0
Investment in tax credit partnerships and SBIC	−76	−13	−9	−20	−44
Return of capital from tax credit partnerships and SBIC	1	274,000	191,000	434,000	0
Net increase in loans	−1,122	−963	16	−2,164	−1,072
Purchases of premises and equipment	−6	−5	−4	−4	−9
Purchase of bank owned life insurance contracts	−125	0	0	0	−45,000
Proceeds from death benefit of bank owned life insurance contracts	0	1	3	2	0
Proceeds from sale of other real estate owned and repossessed assets	3	3	158,000	2	3
Net cash used in investing activities	−1,154	−949	−200	−2,642	−1,561
Net increase (decrease) in non-interest-bearing deposits	65	−23	−678	−1,478	2,011
Net increase in interest-bearing deposits	611	293	2,405	572	466
Net (decrease) increase in federal funds purchased	−522	737	−362	93	860
FHLB advances	1	0	300	0	0
Repayment of FHLB advances	−1	0	−300	0	0
Redemption of other borrowings	−30	0	0	—	—
Proceeds from exercise of stock options	610,000	916,000	1	1	4
Taxes paid in net settlement of tax obligation upon exercise of stock options	−2	−1	−2	−1	−3
Dividends paid on common stock	−73	−65	−46	−37	−33
Dividends paid on preferred stock	−62,000	−62,000	−62,000	−62,000	−62,000
Net cash provided by financing activities	49	941	1,318	−1,036	3,305
Net (decrease) increase in cash and cash equivalents	−750	246	1,315	−3,406	2,011
Interest	453	499	393	83	31
Income taxes	35	45	54	69	57
Other real estate acquired in settlement of loans	3	6	933,000	1	2
Internally financed sale of other real estate owned	0	1	0	0	4
Dividends on nonvested restricted stock reclassified as compensation expense	232,000	218,000	197,000	133,000	104,000
Dividends declared but not paid	21	18	16	15	12

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